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NGEx Resource (NGQ.to): Quicker than I thought

Back in IKN285 dated October 26th the prediction was that NGQ.to would go under $1 in 2015 (and back then it was a $1.50 stock). On that call I was wrong because it didn’t even need to wait that long. NGQ.to went under a loonie yesterday.

Here’s the text on NGQ.to from that day in IKN285

NGEx Resources
(NGQ.to):
This was
the main news bringer of the week from our select band of companies, thanks to
Monday’s announcement of a PEA on its Los Helados project in the upper reaches
of Chile (11). I said all I wanted to say about the report on the blog that sameday as $4.3Bn, for a 9.4% IRR using $3.25/lb copper isn’t going to impress
anyone. It was then amusing to watch how the NGEx debate morphed, because
post-PEA the excuses (you might call them
reasons, or logical extrapolations, or strategic consequences
) offered up
by the self-interested anal ysts covering NGEx were a wonder to behold.
Suddenly, with a bunch of crappy PEA numbers to explain, we’re told that we
should ignore Los Helados as a stand-alone because its future as a mine isn’t
that, it’s as a feeder pit for Caserones down the hill. Or it’s not Los Helados
standalone, it’s an altogether bigger and more wonderful triple pit massive
mine that will contain Los Helados in Chile and the nearby Josemaria and Filos
del Sol deposits on the Argentina side of the border that will be a wonderful
massive bi-national supermine (and we all know how well the bi-national Pascua
Lama mine’s worked out).
The point is that with the PEA in hand, we the willing
investors are told that we should ignore the PEA because it’s a baseline-only
document and isn’t part of the future reality of the mining zone. Which of
course begs the question as to why the PEA was commissioned and paid for and
completed and published but we don’t want to confuse people’s brains too much. Just
buy the stock people (or at least don’t sell the ones you own), ok?
The bullshit spewed out by sycophantic lackeys who kowtow
to the established mining names has to be seen in perspective. How anyone can
trust the word of these so-called independent analysts covering and recommending
NGEx as a hot junior after the circus show we saw from these idiots is beyond
my understanding. Its future, if any, will be as feed for Caserones but as that
mine has all the rock it needs for many, many years there’s no need for Pan
Pacific to buy its partner out for anything approaching current prices. It can
pick its own time, its own price and let NGEx wither on the vine until then. As
noted, this is why Lundin (LUN.to) is buying working operations in Chile in the
shape of Candelaria, rather the buying its own cousin company NGEx for what it
owns.

I will be most surprised if NGEx doesn’t see trading under
$1 during 2015, it’s going nowhere by burning its cash on expensive projects in
the wrong part of the world.

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